Market Insights Technology Software Productivity Software

Creative Software - Australia

Australia

The Creative Software market in Australia is anticipated to witness a remarkable growth in revenue, projected to reach AUD US$160.80m by 2024.
This positive trend is expected to continue with an annual growth rate (CAGR 2024-2029) of 1.50%, leading to a market volume of AUD US$173.20m by 2029.
When compared globally, United States is predicted to generate the highest revenue, estimated at US$4,927.00m in 2024.
Australia's creative software market is thriving, with a growing demand for innovative tools and platforms among local designers and content creators.

Key regions: Canada, United Kingdom, France, South Korea, Germany

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Analyst Opinion

The demand for creative software in Australia has been on the rise in recent years, driven by several factors that have contributed to the growth of the market.

Customer preferences: Australian customers have shown a strong preference for creative software that is easy to use and offers a wide range of features. They also value software that is compatible with multiple devices and platforms, allowing them to work on projects seamlessly across different devices.

Trends in the market: One of the key trends in the Australian creative software market is the increasing adoption of cloud-based software. This trend has been driven by the growing need for remote collaboration and file sharing, as well as the convenience and flexibility offered by cloud-based solutions.Another trend in the market is the increasing focus on mobile devices, with many software providers offering mobile apps that allow users to work on projects on the go. This trend has been driven by the growing popularity of mobile devices in Australia, as well as the increasing demand for software that is compatible with multiple devices.

Local special circumstances: One of the unique factors that have contributed to the growth of the creative software market in Australia is the country's strong creative industry. Australia has a vibrant creative industry, with many artists, designers, and other creative professionals working across various fields. This has created a strong demand for software that can help these professionals to create and collaborate on projects.

Underlying macroeconomic factors: The growth of the creative software market in Australia has also been supported by several underlying macroeconomic factors. These include the country's strong economic growth, which has led to increased investment in technology and innovation, as well as the growing demand for digital solutions across various industries. Additionally, the country's strong education system has helped to create a skilled workforce that is well-equipped to work with creative software.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.